A society is a business done to serve society by a group of members and not to earn profits. It is registered as a legal entity under The Societies Registration Act, 1860. It is generally formed for charitable activities.

Eligibility/Registration for registration of HUF

· The objective shall be legal and for charitable, scientific, and literary purposes.

· Minimum of 7 members.

Documents required for registration of Society

1.· No   Objection Certificate from the owner of the Address to be used as a Registered Office address.

· In the case of leased property, the copy of the lease deed and copy of Electricity bill / Water bill / Gas Bill / Telephone Bill (should not be older than 2 months) for registered office property.

· In case of owned property, copy of sale deed and copy of Electricity bill / Water bill /Gas Bill /   Telephone Bill (should not be older than 2   months) for registered office property.

2. Proof of identity of all the members. Such documents include Aadhaar, Passport,   Driving license or any other Government-issued identity document would be required. (Self-attested copy)

3. Proof of address of all the members.   Such documents include bank statements, electricity bill, water bill, gas bill, and telephone (should not be older than 2 months) (Self-attested copy)

4. PAN of all the members.

5. Affidavit no. 1 for NOC of registered office and its ownership.

6. Affidavit no. 2 for the name of the society and members not being related to each other.

7. MOA

Process of registration of HUF

It includes-

1.  Selection of name.

2. Creation of MoA and signing MoA by all members after required document submission.

Advantages of Society

· Having contractual rights being a separate legal entity.

· Exempted from income tax.

· Limited liability of members.

· Having secured assets.

Disadvantages of Society

· Transparency leads to a lack of secrecy.

· Undue government interventions.

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